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Credit One Bank Platinum Rewards Visa Review

If you have average credit, you can apply for the Credit One Bank® Platinum Rewards Visa, which charges a $39 annual fee. The card offers 1% cash back on gas and grocery purchases, and mobile phone, internet, cable and satellite TV services. Cardholders have access to their Experian credit score and zero dollar fraud liability coverage.

  • Issuer NameCredit One Bank
  • Credit NeededFair, Good
  • Annual Fee$39
  • Regular APR29.74% (variable rate)
  • Balance Transfer FeeSee Terms
  • Cash Advance Fee$10.00/5%, whichever is greater (see terms)
  • Foreign Transaction Fee3% or $1.00, whichever is greater

  • Have average credit.
  • Want to earn rewards on everyday purchases.
  • Don’t mind the annual fee for the opportunity to build credit.

The Credit One Bank® Platinum Rewards Visa is meant to help you build credit to eventually qualify for a better product. To make progress, use the card to make small purchases and try to pay the bill in full on time each month. If those small purchases are in the categories that earn rewards, great.

Editor’s Take

The Credit One Bank® Platinum Rewards Visa’s fee and high APR make it less than ideal, but if it can be leveraged as a means to an end – improving your credit – it can be worthwhile. Read the fine print to understand the rewards better, as this card only earns cash back on select purchases, not all purchases like most rewards cards do.

Dawn PapandreaContributor

The Credit One Bank® Platinum Rewards Visa does not have a welcome offer.

Cardholders of the Credit One Bank® Platinum Rewards Visa earn 1% cash back on gas and grocery purchases, and mobile phone, internet, cable and satellite TV services. You can also earn up to 10% more cash back from specific participating retailers. However, unlike most rewards cards, you won’t earn cash back on all purchases, only those within the rewards categories or with participating retailers.

U.S. News rates credit cards by analyzing factors including fees, interest rates and benefits, each weighed against their importance to determine an overall score for each credit card. Consumers can rely on these ratings to provide objective, accurate assessments of credit card choices.

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Sarah Goldberg
Sarah Goldberg

Sarah is a seasoned financial market expert with a decade of experience. She's known for her analytical skills, attention to detail, and ability to communicate complex financial concepts. She holds a Bachelor's degree in Finance, is a licensed financial advisor, and enjoys reading and traveling in her free time.

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